Good morning. David Meyer here, filling in for Alan.
Yesterday marked yet another setback for European officials attempting to squeeze more taxes out of the big U.S. tech firms operating on their turf.
The European Commission had proposed hitting digital services companies with a 3% tax on their revenues - not their profits. It was only supposed to be an interim measure, while the EU revamped corporate tax rules to allow profit taxation in the countries where the companies operate, rather than where they are headquartered.
But smaller, low-tax countries like Ireland, where so many tech...Read more ...